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yep gonna fill that gap
whats everyone playing today in the oil sector??
ParaFin Corp. Has Appointed Several Agents to Represent the Company in Negotiations to Sell Hydrocarbon Products and Derivatives
Monday September 25, 9:30 am ET
PALM SPRINGS, CA--(MARKET WIRE)--Sep 25, 2006 -- ParaFin Corporation (OTC BB:PFNC.OB - News), approved by the Board of Directors on September 20, 2006, has appointed as Series of Agents for representation of their business global requirements in the Purchase and Re-Sale of Natural Gas, Liquid Natural Gas, Crude Oil and derivatives, including business opportunities.
The following Agents have been appointed to work with the Asset Manager in the Company's Global Development Efforts:
COMPANY REPRESENTED TITLE TERRITORY
Lao-Can Holdings Mr. Sam Chanpradith President Asia
Mr. Somsack Bualavong Vietnam
WellsLink
Petroleum Co. Ltd. Mr. Suwan Deesunthia President Asia
Mr. Jose Marin S. America
Mr. Andres Leonet P. Rico/Venezuela
Javier Hernandez C. America/Europe
Salvador Bobadilla Mexico
Mr. Ahmad Alsoussi Brazil/Middle East
Set value Joseph Luna President Europe
Developments,
Inc.
Press Release Source: Parafin Corporation
(Originally posted friday)
ParaFin Corp. Has Appointed Several Agents to Represent the Company in Negotiations to Sell Hydrocarbon Products and Derivatives
Monday September 25, 9:30 am ET
PALM SPRINGS, CA--(MARKET WIRE)--Sep 25, 2006 -- ParaFin Corporation (OTC BB:PFNC.OB - News), approved by the Board of Directors on September 20, 2006, has appointed as Series of Agents for representation of their business global requirements in the Purchase and Re-Sale of Natural Gas, Liquid Natural Gas, Crude Oil and derivatives, including business opportunities.
The following Agents have been appointed to work with the Asset Manager in the Company's Global Development Efforts:
COMPANY REPRESENTED TITLE TERRITORY
Lao-Can Holdings Mr. Sam Chanpradith President Asia
Mr. Somsack Bualavong Vietnam
WellsLink
Petroleum Co. Ltd. Mr. Suwan Deesunthia President Asia
Mr. Jose Marin S. America
Mr. Andres Leonet P. Rico/Venezuela
Javier Hernandez C. America/Europe
Salvador Bobadilla Mexico
Mr. Ahmad Alsoussi Brazil/Middle East
Set value Joseph Luna President Europe
Developments,
Inc.
This board is a ghost town, anyone coming here just go to yahoo's naps board.
Hey stock lobster, is that you ? lolol funny picture
Oil futures close higher as output risks remain
Prices remain under $64 as some analysts expect further weakness for crude
PrintE-mailDisable live quotesRSSDigg itDel.icio.usBy Myra P. Saefong, MarketWatch
Last Update: 3:34 PM ET Sep 18, 2006
SAN FRANCISCO (MarketWatch) -- Crude futures closed higher Monday as ongoing risks to global production and a startup delay of a key oil platform in the Gulf of Mexico prompted the market to recover part of last week's loss, but prices remained under $64 a barrel on expectations for lower oil demand and strong production.
The market's likely in an oversold position, said Emanuel Balarie, a senior market strategist at Wisdom Financial.
"Longer term, as long as China and other emerging nations continue their growth and long-term supply remains tight, the outlook for $100 oil is still intact," he said.
And if oil prices fall much lower, the Organization of the Petroleum Exporting Countries might consider cutting production and stabilizing prices," he said.
But John Kilduff, an analyst at Fimat USA, said he believes that "the only thing preventing the crude-oil market from falling even further is its oversold technical condition."
The path of least resistance remains lower, he said, with pressure from several factors including: OPEC lowering its demand forecast again, expectations that non-OPEC oil output will be highest since 1984 and an El Nino weather forecast pointing to the potential for a warmer-than-normal winter.
Crude for October delivery climbed 47 cents to close at $63.80 a barrel on the New York Mercantile Exchange. It rose as high as $64.45 during the session, reversing course after an earlier low of $62.85.
On Friday, the contract posted a modest gain to recover from a low of $62.05 -- its weakest level of the year, but still registered a loss of nearly $3 last week on speculation that oil demand is weakening. See full story.
Also in the Nymex session, October unleaded gas closed up 0.46 cent at $1.5796 a gallon and October heating oil added 2.34 cents, or 1.4%, to close at $1.7257 a gallon.
BP encounters platform startup delay
BP (BP : bp plc sponsored adr
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Last: 65.55+0.69+1.06%
4:50pm 09/18/2006
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BP65.55, +0.69, +1.1%) announced Monday afternoon that repair of sub-sea production equipment will delay the start up of production from its Thunder Horse platform in the Gulf of Mexico until at least the middle of 2008.
The company had expected production to begin by the end of 2005, then "first oil" at the platform was rescheduled for 2007 because of repairs needed following Hurricane Dennis in July 2005, according to BP.
Thunder Horse was one of the key discoveries upon which BP said it will grow its future Gulf production. The platform is designed to process 250,000 barrels of oil per day and 200 million cubic feet of natural gas per day.
When completed, Thunder Horse will be the largest producer in the Gulf, BP said on its Web site.
The news of the delay and other concerns, including the recent decline in crude's price premium and tension following last week's remarks on Islam by Pope Benedict XVI helped strengthen crude's price Monday, said Kevin Kerr, editor of Global Resources Trader, a newsletter of MarketWatch, the publisher of this report.
Hodgepodge
Also adding to oil's strength Monday, "there has been talk that Saudi Arabia will begin unofficially cutting back production, as crude-oil prices approach $60 a barrel, representing the first psychological threat to sellers in almost three weeks," said Kilduff.
Saudi Arabia's oil minister recently said the country would produce between 9.1 million and 9.2 million barrels per day in September -- that would be down from nearly 9.5 million barrels per day in the first quarter, according to Kilduff.
At the same time, "the market's slide has deepened as concerns wane over the possibility of Iran withholding oil shipments in its dispute with the West over its nuclear ambitions," he said.
This "should not usher in a period of complacency on the part of market participants," he said.
Iran warned Monday that it will stop cooperating with United Nations' nuclear inspectors if the U.N. Security Council acted against it, but also said negotiations could still work, AFP reported.
And in other news, Iran's President Mahmoud Ahmadinejad met with Venezuelan President Hugo Chavez ahead of a trip to New York for this week's U.N. General Assembly. Ahmadinejad said the U.S. represents "the tyrants of the world today," and referred to Chavez as his brother, the Associated Press reported Monday.
For now, it is possible that the $62.50-$64.50 level in crude oil is a temporary bottom, said Kilduff. "In order to make that level a solid low will require a somewhat improved outlook for the global economy in coming weeks."
In contrast, Charles Perry, chairman of Perry Management, an energy-consulting firm, expects oil prices to fall into "the high $50s at the bottom."
"When supply exceeds demand, the price will go down," he said, and that is "where we are today."
While OPEC members have indicated they will attempt to hold the price above $60 a barrel, Perry said he's "skeptical that OPEC can have any great effect on crude prices," given that the cartel's output is now less than 30% of world production and some members have let their production decline in the past few years.
Even so, certain OPEC members can "scare the price up with their saber rattling and threats," Perry said. Consumption of gasoline may pick up on the heels of the lower retail prices, and that could put the brakes on the crude-price decline as well, he said.
"Be prepared for the next rise in crude-oil prices in late 2006 or early 2007, and make no mistake about it -- long term, crude-oil prices will rise," he said.
'Technical' outlook
Citigroup analyst Doug Leggate expects oil prices to continue to trade lower in the near future.
Leggate said he believes that "technicals" have become a "key lead-indicator" of oil prices, because of the dominance of investment funds in trading oil futures, which currently make up about half of the market, and since funds are driven more by technical factors than market fundamentals.
"Currently, out technical analysts predict substantial near-term oil price risk, with a move as low as $50 likely over the next few months," he said.
In contrast, Morgan Stanley technical analyst Mark Newton said he thinks conditions are right for crude-oil prices to enjoy a bounce that could take prices back above $70 a barrel.
"The recent drop in crude oil ... to oversold territory over the last few months has reached a strong area of support that creates an attractive near-term buying opportunity," Newton said. "Factors such as momentum, sentiment and intermediate-term cycles all suggest that this pullback is buyable from a risk-vs.-reward perspective."
He said a rebound could reach initial resistance at the $68 to $70 a barrel level, while intermediate-term resistance sits in the mid-$70s.
Natural gas falls back
In other energy markets, natural-gas futures retreated from an earlier high to end the session lower.
The October contract closed 4 cents, or 0.8%, lower at $4.942 per million British thermal units after peaking at $5.14 for the day.
The contract had edged up 9 cents on Friday, following two-and-a-half-year intraday low on Thursday.
Overall, however, natural-gas prices have "already come down quite dramatically," said Ben Smith, a managing partner at First Enercast Financial.
"The winter contracts are still priced relatively high," he said, and the most expensive monthly contracts (January, February and March) appear to be selling off the most today.
"Given the current storage situation, we should have no concerns meeting natural gas demand this winter, even if it is colder than normal," he said. "This makes these winter contracts the most susceptible to further downside risk."
In equities, benchmarks tracking stocks in the oil and gas sectors climbed, with the Oil Service Index ($OSX : phlx euro style oil svc index osx
Oil futures close higher as output risks remain
Prices remain under $64 as some analysts expect further weakness for crude
PrintE-mailDisable live quotesRSSDigg itDel.icio.usBy Myra P. Saefong, MarketWatch
Last Update: 3:34 PM ET Sep 18, 2006
SAN FRANCISCO (MarketWatch) -- Crude futures closed higher Monday as ongoing risks to global production and a startup delay of a key oil platform in the Gulf of Mexico prompted the market to recover part of last week's loss, but prices remained under $64 a barrel on expectations for lower oil demand and strong production.
The market's likely in an oversold position, said Emanuel Balarie, a senior market strategist at Wisdom Financial.
"Longer term, as long as China and other emerging nations continue their growth and long-term supply remains tight, the outlook for $100 oil is still intact," he said.
And if oil prices fall much lower, the Organization of the Petroleum Exporting Countries might consider cutting production and stabilizing prices," he said.
But John Kilduff, an analyst at Fimat USA, said he believes that "the only thing preventing the crude-oil market from falling even further is its oversold technical condition."
The path of least resistance remains lower, he said, with pressure from several factors including: OPEC lowering its demand forecast again, expectations that non-OPEC oil output will be highest since 1984 and an El Nino weather forecast pointing to the potential for a warmer-than-normal winter.
Crude for October delivery climbed 47 cents to close at $63.80 a barrel on the New York Mercantile Exchange. It rose as high as $64.45 during the session, reversing course after an earlier low of $62.85.
On Friday, the contract posted a modest gain to recover from a low of $62.05 -- its weakest level of the year, but still registered a loss of nearly $3 last week on speculation that oil demand is weakening. See full story.
Also in the Nymex session, October unleaded gas closed up 0.46 cent at $1.5796 a gallon and October heating oil added 2.34 cents, or 1.4%, to close at $1.7257 a gallon.
BP encounters platform startup delay
BP (BP : bp plc sponsored adr
News , chart, profile, more
Last: 65.55+0.69+1.06%
4:50pm 09/18/2006
Delayed quote dataAdd to portfolio
Analyst
Create alertInsider
Discuss
Financials
Sponsored by:
BP65.55, +0.69, +1.1%) announced Monday afternoon that repair of sub-sea production equipment will delay the start up of production from its Thunder Horse platform in the Gulf of Mexico until at least the middle of 2008.
The company had expected production to begin by the end of 2005, then "first oil" at the platform was rescheduled for 2007 because of repairs needed following Hurricane Dennis in July 2005, according to BP.
Thunder Horse was one of the key discoveries upon which BP said it will grow its future Gulf production. The platform is designed to process 250,000 barrels of oil per day and 200 million cubic feet of natural gas per day.
When completed, Thunder Horse will be the largest producer in the Gulf, BP said on its Web site.
The news of the delay and other concerns, including the recent decline in crude's price premium and tension following last week's remarks on Islam by Pope Benedict XVI helped strengthen crude's price Monday, said Kevin Kerr, editor of Global Resources Trader, a newsletter of MarketWatch, the publisher of this report.
Hodgepodge
Also adding to oil's strength Monday, "there has been talk that Saudi Arabia will begin unofficially cutting back production, as crude-oil prices approach $60 a barrel, representing the first psychological threat to sellers in almost three weeks," said Kilduff.
Saudi Arabia's oil minister recently said the country would produce between 9.1 million and 9.2 million barrels per day in September -- that would be down from nearly 9.5 million barrels per day in the first quarter, according to Kilduff.
At the same time, "the market's slide has deepened as concerns wane over the possibility of Iran withholding oil shipments in its dispute with the West over its nuclear ambitions," he said.
This "should not usher in a period of complacency on the part of market participants," he said.
Iran warned Monday that it will stop cooperating with United Nations' nuclear inspectors if the U.N. Security Council acted against it, but also said negotiations could still work, AFP reported.
And in other news, Iran's President Mahmoud Ahmadinejad met with Venezuelan President Hugo Chavez ahead of a trip to New York for this week's U.N. General Assembly. Ahmadinejad said the U.S. represents "the tyrants of the world today," and referred to Chavez as his brother, the Associated Press reported Monday.
For now, it is possible that the $62.50-$64.50 level in crude oil is a temporary bottom, said Kilduff. "In order to make that level a solid low will require a somewhat improved outlook for the global economy in coming weeks."
In contrast, Charles Perry, chairman of Perry Management, an energy-consulting firm, expects oil prices to fall into "the high $50s at the bottom."
"When supply exceeds demand, the price will go down," he said, and that is "where we are today."
While OPEC members have indicated they will attempt to hold the price above $60 a barrel, Perry said he's "skeptical that OPEC can have any great effect on crude prices," given that the cartel's output is now less than 30% of world production and some members have let their production decline in the past few years.
Even so, certain OPEC members can "scare the price up with their saber rattling and threats," Perry said. Consumption of gasoline may pick up on the heels of the lower retail prices, and that could put the brakes on the crude-price decline as well, he said.
"Be prepared for the next rise in crude-oil prices in late 2006 or early 2007, and make no mistake about it -- long term, crude-oil prices will rise," he said.
'Technical' outlook
Citigroup analyst Doug Leggate expects oil prices to continue to trade lower in the near future.
Leggate said he believes that "technicals" have become a "key lead-indicator" of oil prices, because of the dominance of investment funds in trading oil futures, which currently make up about half of the market, and since funds are driven more by technical factors than market fundamentals.
"Currently, out technical analysts predict substantial near-term oil price risk, with a move as low as $50 likely over the next few months," he said.
In contrast, Morgan Stanley technical analyst Mark Newton said he thinks conditions are right for crude-oil prices to enjoy a bounce that could take prices back above $70 a barrel.
"The recent drop in crude oil ... to oversold territory over the last few months has reached a strong area of support that creates an attractive near-term buying opportunity," Newton said. "Factors such as momentum, sentiment and intermediate-term cycles all suggest that this pullback is buyable from a risk-vs.-reward perspective."
He said a rebound could reach initial resistance at the $68 to $70 a barrel level, while intermediate-term resistance sits in the mid-$70s.
Natural gas falls back
In other energy markets, natural-gas futures retreated from an earlier high to end the session lower.
The October contract closed 4 cents, or 0.8%, lower at $4.942 per million British thermal units after peaking at $5.14 for the day.
The contract had edged up 9 cents on Friday, following two-and-a-half-year intraday low on Thursday.
Overall, however, natural-gas prices have "already come down quite dramatically," said Ben Smith, a managing partner at First Enercast Financial.
"The winter contracts are still priced relatively high," he said, and the most expensive monthly contracts (January, February and March) appear to be selling off the most today.
"Given the current storage situation, we should have no concerns meeting natural gas demand this winter, even if it is colder than normal," he said. "This makes these winter contracts the most susceptible to further downside risk."
In equities, benchmarks tracking stocks in the oil and gas sectors climbed, with the Oil Service Index ($OSX : phlx euro style oil svc index osx
weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
GLIF and PFNC are gonna be this weeks hottest stocks
*****************Hmmm i just realized this is is called BB penny haven and the moderator is I like bb stock. this thread should be only bb imo. remove the pinksheets for they are the worst imo
nice chart, i put that one on my watchlist thanx
I like PFNC, its my only penny stock oil play right now.
OT: TNEN Has Nice Swings.
http://biz.yahoo.com/iw/060908/0161159.html Take a look at that news. She Has nice swings as well when she gets going. A lot of upside longterm.
weeeeeeeeee about time my .70's started looking nice 8-)
Agreed, i think we will see a nice rise within next week and the week after. this sunday reps will be securing/seeking contracts. Im gonna go get some lunch and not post anymore....be back later.
Biggest News Today>>>>>>>>>>>>PFNC>>>>>>>>>>>>>>
http://biz.yahoo.com/iw/060908/0161159.html
ParaFin Signs Agreement to Provide $21 Million Worth of Diesel Fuel on a Bi-Weekly Basis to Thailand Company.
No doubt, float is so dry, no telling what mms are gonna do with this one
ParaFin Signs Agreement to Provide $21 Million Worth of Diesel Fuel on a Bi-Weekly Basis to Thailand Company
Friday September 8, 9:00 am ET
PALM SPRINGS, CA--(MARKET WIRE)--Sep 8, 2006 -- ParaFin Corporation (OTC BB:PFNC.OB - News): ParaFin Corporation (the Company) signed an agreement to sell 1,200,000 Metric Tons of High Speed Diesel #2 (8,760,000 barrels) to Wellsink Petroleum Co., Ltd. of Bangkok, Thailand.
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"The contract requires bi-weekly delivery of 50,000 Metric Tons of High Speed Diesel #2, which is valued at approximately USD$21,000,000.00. Price concessions, that were negotiated in exchange for terms, make the transaction very profitable for both companies," stated both parties to the Agreement.
The transaction is now into the Banking confirmation stages to issue the Documentary Letters of Credit for payment of each Cargo delivery and a Stand-By-Letter-Credit as security for the contract. The company anticipates the deliveries to commence in November.
The agreement with Wellsink is the first step in the Company's plan to create a presence in Southeast Asia. Representatives of the Company will be in Southeast Asia on September 10, 2006 to seek to secure other similar Agreements that may include Russian Export Blend Crude Oil and Saudi Light Crude. We are hoping that those contracts will be executed in the near future.
Still had some sellers today. But she looks to be stabilizing a bit lately. Finding some ground to stand on.
We could probably gauge the 10k date by keeping an eye on the SHO list http://www.nasdaqtrader.com/aspx/regsho.aspx
also the website isnt a physical site that needs much contruction, updates if any, should be relatively quick...
ZZZZZZZZZZZZZZZZZ i regress...
Hope so i normally see a gap down after a day like this...
omg its going down???! i dont believe it...
it always says 1 day to cover! fwiw!
WELL i've got more sources than YOU all do to make my verdict on the authenticity of this...you on the other hand have only rufus's word from the past....(nothing new) he hasnt shown up here or anything, explain that!
lol it's so funny because you could replace ourstreet-with rufus and vice versa and your statement would still make sense...
that "bogus" letter has now been confirmed by 3 sources ourstreet, ny post, and now a PR from comtex. what more do you need? thats a red flag buddy. and if you think the selling is done, you are just a rookie...
Analog, why the need for name calling may i ask?
I bet this still wont be enough to convince people lol sad but true
I trust You serf lol jk. i trust my own judgment, but having others like serf around kinda keeps your head on str8!
Nope, hes prolly still hung over after yesturdays cookout...lol jk
No way man, thats just a normal bounce reaction to a drop. stocks will drop in bounces most of the time...
How do you know? i would think if it were true the current level 2 price would compliment it...
Sam, how could you say that when the market read the C & D afte 1 pm? no way price could be factored in...not many people got out. there has been A LOT of buying, and no way that friday represented a "reflection" of the C&D..my guess is a slow stream of selling for a few days at least
Even if he had the letter, and sen tit to you, im sure youd say it was a fraud lmao..
Please prove that it WAS rufus then.eom
again... "in the paltalk interview" you cant assume this was rufus, as i said earlier i heard someone say that but it wasnt rufus!!
I heard that someone appeared on paltalk (allegedly) but they didnt say it was rufus, did u hear it
wherrreesss..... RUFUS!? still hasnt spoken a word... good news travels fast, remember that folks!